How much exactly do you need to retire on? You need to establish a realistic number that you can comfortably live on - without a job.
You probably have run into a few retirement books over the years. One of the more interesting of them was one entitled The Number.
That really puts a fine point on things, doesn’t it? How much do you need to
retire, exactly?
What’s your “number” for retirement? Often, we assume a large round figure and let it go at that. Like $1 million.
But it’s more than a little unrealistic to pick a number from the air without knowing two important things: How do we get there, and do we even need that much money anyway? Last things first.
You should not target a number you need to retire but instead get a real sense of how much cash you need to live well and care for yourself. That’s what retirement is, after all — not having a job anymore.
Read entire article HERE
Excellent resources below for learning about and planning your retirement:
It's Never Too Late: Getting Older, Wiser, and Worry Free in Our Golden Years
Retire Inspired: It's Not an Age, It's a Financial Number
The Number: What Do You Need for the Rest of Your Life and What Will It Cost?
